On June 9, 2021, the United States District Court for the Northern District of California entered a final judgment against Bingqing Yang, the CEO of Luca International, LLC, in a previously-filed action against eight defendants alleging an affinity fraud scheme that generated more than $68 million from illegal sales of securities in an oil and […]
Lordstown Motors Corp.’s shares dipped on Monday as the electric truck startup’s two top executives stepped down after the company’s board found evidence of inaccurate statements to investors. The onetime star special purpose acquisition company’s stock took its biggest one-day drop ever. Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned from […]
As our Mediating and Arbitrating FINRA Claims program is coming up, we wanted to shine the spotlight on our outstanding panel. Our first panelist, Phil Aidikoff, is a Partner of Aidikoff, Uhl & Bakhtiari, an AV rated firm which has represented customers, executives and brokers in claims against the Financial Services Industry for more than […]
The Securities and Exchange Commission today announced an award of more than $800,000 to a whistleblower whose information caused the staff to open an investigation that led to two successful SEC enforcement actions. “The whistleblower provided the Commission with a detailed analysis that alerted staff to the underlying securities violations,” said Jane Norberg, Chief of […]
he Securities and Exchange Commission today announced that Interactive Brokers LLC will pay an $11.5 million penalty to settle charges it repeatedly failed to file Suspicious Activity Reports (SARs) for U.S. microcap securities trades it executed on behalf of its customers. In parallel actions, the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading […]